Galaxy Ventures fund has exceeded its $150 million fundraising target

On April 17, according to Bloomberg, people familiar with the matter said that Michael Novogratz's Galaxy Ventures Fund I LP has exceeded its fundraising goal of $150 million and will build a portfolio of about 30 investments. The fund, which focuses on investing in early-stage startups, with a particular focus on payments and stablecoins, is expected to complete the fundraising by the end of June, raising between 175 million and 180 million dollars. The limited partners of the new fund are mainly family offices and high net worth individuals. Galaxy itself has also invested in the fund.
Galaxy recently received approval to list directly on the Nasdaq Stock Exchange, and the transaction is expected to take place after an extraordinary shareholders' meeting in May.